1099-MISC Forms: Don't Forget State Filings

With the deadline for the filing of 1099-MISCMISC forms fast approaching – it is January 31st for contractors – there are lots of business owners scrambling. Yet many think that the only requirement is for IRS purposes.

Well, the fact is that many states have filing requirements as well. And yes, the process can be cumbersome.

Failing to meet a state filing deadline can be costly, in terms of penalties. Besides, it is usually a hassle when dealing with a state agency, right?

So to help things, a company called Greatland has built an online system, called speedEfiler.com, which is a soup-to-nuts platform for your 1099-MISC forms (and also for W-2s). For the most part, the focus is on the needs of small and medium sized businesses.

Recently I had a chance to try out the system and it has the kinds of features you’d expect, such as an import from IntuitIntuit’s QuickBooks, an easy-to-use interface and matching of tax identification numbers.

Tax (Photo credit: 401(K) 2013)

But there is also a full-service system to handle state filings on a direct basis. In other words, there is no need to fill out extra forms.

The company has also set up a temporary state filling lab that will be staffed from January through March. It is composed of experts who confirm that all regulations are up to date and all filings are doubled checked.

As for the pricing, it is reasonable. For example, if you need to send out a federal and state 1099-MISC form for California, it will cost about $5.40 for each filing.

So do you need to make a state filing? To see, you can check out the following chart.

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